Question 1

The process through which analysts sift through massive amounts of available data to identify unique patterns of behavior among different customer groups is called ________.

Accepted Answer

The process of sifting through massive amounts of available data to identify unique patterns of behavior among different customer groups is called data mining.

Question 2

Which component of the marketing research process determines the consumer population that a company will study?

Accepted Answer

The answer of Which component of the marketing research process...

Question 3

Marketers would be most likely to use ________ to come up with ideas for new strategies and opportunities or to get a better understanding of a problem they are currently experiencing with a product.

Accepted Answer

Exploratory research is used to gather preliminary information that will help the marketer define the problem and suggest hypotheses. It is often used at the beginning of the research process to generate new ideas or to gain a better understanding of a problem. This type of research is less structured and more flexible than other research methods and allows for the exploration of new ideas and opportunities.

Question 4

Data that has been collected for some other purpose than to answer the question at hand is called ________.

Accepted Answer

Secondary data is collected for some other purpose than to answer the current research question. Primary data, on the other hand, is collected specifically for the research question at hand. Mined data refers to information that has been extracted from large datasets, and experimental data is collected through controlled experiments. Ethnographic data is collected through observation and participation in a particular culture or group.

Question 5

Cellular providers who have begun signing deals with business partners wanting to market products based on specific phone users' locations and calling habits are participating in a new trend called ________.

Accepted Answer

The trend described in the question, where cellular providers sign deals with business partners to market products based on phone users' locations and calling habits, is known as reality mining. Reality mining involves the collection, analysis, and application of data from everyday activities to reveal patterns in behavior.

Question 6

Which of the following is true of focus groups?

Accepted Answer

Focus groups are used to gather exploratory data. They involve a group of people, usually 6 to 10, who are brought together to discuss a particular topic or product. The discussion is led by a moderator who asks open-ended questions and encourages participants to share their thoughts and opinions. Focus groups are often used in market research to help companies better understand their target audience and potential customers.

Question 7

A company utilized ________ when it asked consumers to indicate how they feel about panty hose.

Accepted Answer

The answer of A company utilized ________ when it asked...

Question 8

Which of the following is a true statement about the steps in the marketing research process?

Accepted Answer

Defining the research problem is typically the first step in the marketing research process, as it sets the stage for all subsequent steps. The research design and method of data collection should be determined based on the research problem, and data collection must occur before analysis and interpretation can take place. The sample design may be developed after the research problem is defined and the data collection method is selected.

Question 9

Which of the following is most likely to involve in-depth surveying or observation of a few consumers who fit the profile of the "typical" customer?

Accepted Answer

Exploratory research is typically conducted when there is limited information available about a certain topic or problem. This type of research involves in-depth surveys or observation of a few consumers who fit the profile of the "typical" customer in order to gain insights and develop hypotheses for further research.

Question 10

Companies are most likely to use data mining results identifying unprofitable customers for ________.

Accepted Answer

Data mining results identifying unprofitable customers are most likely used for customer abandonment, which involves identifying and possibly reducing or eliminating relationships with customers who negatively impact the business financially.

Question 11

Which of the following specifies exactly what information marketers will collect and what type of study they will do?

Accepted Answer

The research design specifies exactly what information marketers will collect and what type of study they will do. The research objective provides an overview of what the study aims to accomplish, the environmental context describes the external factors that may influence the study, the sampling method outlines how participants will be selected, and the data collection method describes how information will be collected, but none of these options specify exactly what information will be collected or the type of study that will be conducted.

Question 12

Which of the following is information gathered directly from respondents in order to specifically address a question at hand?

Accepted Answer

Primary data is information gathered directly from respondents through surveys, questionnaires, interviews, or other methods in order to specifically address a research question or problem. This is in contrast to secondary data which is already existing data that was collected for another purpose and may not be directly relevant to the current research question. Ethnographic observations and experimental hypotheses may also generate primary data, but the question specifically asks for information gathered directly from respondents. Internal data refers to data that a company or organization collects about its own operations and performance.

Question 13

LexisNexis and Dialog are two companies that provide ________.

Accepted Answer

LexisNexis and Dialog provide secondary data, which is data that has been previously collected and can be accessed through various sources such as databases, reports, and articles.

Question 14

Which type of research generates nonnumeric results that provide detailed verbal or visual information about consumers' attitude?

Accepted Answer

Qualitative research generates nonnumeric results, such as detailed verbal or visual information about consumer attitudes.

Question 15

Which of the following is NOT one of the four main applications of data mining for marketers?

Accepted Answer

The answer of Which of the following is NOT one...

Question 16

The second step of the marketing research process is to ________.

Accepted Answer

The second step of the marketing research process is to determine the research design. This involves deciding on the overall approach to collecting data, such as whether to use focus groups, surveys, or experiments, and how the data will be analyzed. Defining the problem, selecting the primary data collection method, determining the sampling method, and calculating the budget all come later in the process.

Question 17

The marketing research process step of defining the research problem has three components specifying the research objectives, identifying the consumer population of interest, and ________.

Accepted Answer

The third component of defining the research problem is placing the problem in an environmental context. This involves identifying external factors that may impact the research and considering the existing knowledge base on the topic. While determining a budget, selecting managers, and deciding on data collection methods are important parts of the marketing research process, they do not fall under the specific category of defining the research problem.

Question 18

The first step in the marketing research process is to ________.

Accepted Answer

Clearly understanding the information needed by managers is crucial as it sets the direction for the entire research process. Without a clear understanding of what information is needed, the research may not be effective or efficient. The other steps listed can come after this initial step of determining the necessary information.

Question 19

A company that compiles and uses large amounts of data to understand its customers is likely to have a(n) ________ to store and process its data.

Accepted Answer

A data warehouse is specifically designed to store and process large amounts of data for analysis and decision making, making it the most suitable option for a company that compiles and uses large amounts of data to understand its customers. A distribution center is used to store and distribute products, while a competitive intelligence center and custom research project are focused on gathering external market data. A marketing research department may collect data, but it may not have the same level of storage and processing capabilities as a data warehouse.

Question 20

Through the data mining application of ________, marketers identify big-spending customers and target them for special offers that other customers won't receive.

Accepted Answer

Customer retention strategies often involve identifying and targeting high-value customers with special offers to encourage them to continue doing business with the company.

Quiz 3: Marketing Research: Gather, Analyze, and Use Information